Truvestments Capital LLC Cuts Stock Position in Spok Holdings, Inc. (NASDAQ:SPOK)

Truvestments Capital LLC lessened its holdings in Spok Holdings, Inc. (NASDAQ:SPOK) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 129,532 shares of the Wireless communications provider’s stock after selling 26,433 shares during the period. Truvestments Capital LLC owned 0.64% of Spok worth $2,079,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Sanctuary Advisors LLC increased its stake in Spok by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 27,269 shares of the Wireless communications provider’s stock worth $439,000 after buying an additional 1,271 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Spok by 67.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider’s stock worth $1,782,000 after buying an additional 44,896 shares in the last quarter. Inspire Investing LLC purchased a new stake in Spok in the 4th quarter worth $801,000. Hennion & Walsh Asset Management Inc. increased its stake in Spok by 33.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 50,221 shares of the Wireless communications provider’s stock worth $806,000 after buying an additional 12,471 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Spok by 2,263.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,419 shares of the Wireless communications provider’s stock worth $2,988,000 after buying an additional 190,024 shares in the last quarter. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Spok Stock Down 1.0 %

SPOK opened at $16.32 on Wednesday. The firm has a 50-day simple moving average of $16.30 and a two-hundred day simple moving average of $15.86. Spok Holdings, Inc. has a 52 week low of $13.24 and a 52 week high of $17.96. The company has a market capitalization of $333.24 million, a PE ratio of 22.36 and a beta of 0.29.

Spok (NASDAQ:SPOK) last announced its quarterly earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Spok had a net margin of 10.66% and a return on equity of 9.20%. The business had revenue of $33.89 million during the quarter, compared to the consensus estimate of $35.50 million. As a group, sell-side analysts expect that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date is Friday, March 14th. Spok’s payout ratio is 168.92%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley raised shares of Spok from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $20.00 in a report on Thursday, February 27th. StockNews.com raised shares of Spok from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.